Thursday, August 23, 2012

Well, THIS is Interesting!

Gawker mag has published a buttload of Romney's tax haven records, and the ugly portrait they create is as repugnant as you thought it was:

John Cook at published 950 pages of Presidential candidate Mitt Romney's financial documents for at least 21 funds in which Romney personally invested, including several overseas 'tax haven' accounts, on Wednesday. The funds revealed in the documents are also affiliated with Bain Capital, Romney's former firm.

 Gawker has not yet said how it obtained the documents, but asked "readers to help evaluate" the finances, and has financial lawyers currently filing through the dense paper work.

Romney has so far only released two years of partial tax returns, coming under fire for denying transparency regarding his personal finances, with some Democratic leaders claiming that in some years, he did not pay any taxes.

The Guardian reports today that the documents published by Gawker, make clear that tax avoidance is a primary aim of some of his investments.

Romney and his wife, Ann, are both investors in a Cayman Island-based fund called Bain Capital Fund VIII. The Bain fund contains assets worth up to $3.7bn and according to the documents, "intends to conduct its operations so that it will not be engaged in a United States trade or business and, therefore, will not be subject to United States federal income or withholding tax on its income from United States sources".
Bain controls at least 138 funds in the Caymans, and Romney personally has $30m invested in the Cayman Islands alone, according to an earlier report by Vanity Fair.... More at Common Dreams...


Anonymous Anonymous said...

Mr. Romney is running for President of the United States.
This is a position of Trust.
Ronald Reagan said, "Trust but Verify."
Mr. Romney has said, "Trust me," re his tax returns.
It is not unreasonable for voters to want to "Verify.

What is the single issue on which Mr. Romney has never flip-flopped? He stands doggedly firm on never, under any circumstances, releasing his tax returns.


It is not just liberals who want to see Romney's tax returns.
It is 63% of American voters who do.

The longer Mr. Romney delays, the more suspicious it appears.

Obama released 8 years of tax returns
GW Bush 10 years
Clinton 12 years
GHW Bush 14 years
George Romney 12 years.

What is there to hide?

2:15 PM  
Blogger Anna Van Z said...

Exactly! If there was truly nothing to hide, mittens would release the records.(When he got permission from his wife first, that is. Doesn't seem like ol' mitt wears the pants in that family!)

1:37 PM  

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